It’s December 2020 - do you know where your vendors are?
Consolidation happens. Much of the time, like taking a chess piece, it can happen quietly, but with game-changing implications. Recently however, the size of the pieces taken among financial services vendors has raised some eyebrows - especially for their bank and credit union customers. The impacts of these moves can be positive...or not...which is why SRM keeps an eye on the board for these types of events.
2019 was a record year for fintech deals, mergers, and acquisitions - then along came 2020. The complications brought on by the pandemic did not create a lull in M&A. In Q1 of ‘20, Visa announced the acquisition of Plaid. Visa positioned the acquisition as “both an entry into new businesses and complementary enhancements to Visa’s existing business, putting them at the epicenter of the fintech world.”